Laserfiche WebLink
RESOLUTION NO. 1367-g <br /> INDUCEMENT RESOLUTION <br /> OF <br /> THE CITY OF SOUTH BEND, INDIANA <br /> RELATING TO AN APPLICATION BY <br /> GRIFFITH LABORATORIES U.S.A. , INC. , <br /> FOR THE ISSUANCE OF <br /> CITY OF SOUTH BEND ECONOMIC DEVELOPMENT REVENUE BONDS <br /> WHEREAS, at the present time there are insufficient <br /> employment opportunities and insufficient diversification of <br /> business, commerce and industry in and near the City of South <br /> Bend, Indiana (the "City" ) ; and <br /> WHEREAS, the economic welfare of the City would be <br /> benefited by the acquisition of economic development facilities <br /> out the corporate limits of the City pursuant to the provisions <br /> of Indiana Code 36-7-12 (the "Act" ) ; and <br /> WHEREAS, Griffith Laboratories, U.S.A. , Inc. , a Dela- <br /> ware corporation ( "Griffith" ) with its corporate headquarters <br /> located in Alsip, Illinois, proposes to acquire economic devel- <br /> opment facilities near South Bend, Indiana as defined in the <br /> Act if the City will finance costs of such economic development <br /> facilities pursuant to the Act; and <br /> WHEREAS, the South Bend Economic Development Commis- <br /> sion has received an application by Grriffith for the issuance <br /> of City of South Bend Economic Development Revenue Bonds in the <br /> approximate principal amount of Ten Million and no/100 Dollars <br /> ($10, 000, 000 . 00) with the terms of repayment to be determined <br /> by the market rates at the time the bonds are sold and the pro- <br /> ceeds of the bonds will be used to acquire real estate, make <br />